NTT DoCoMo, Japan's leading mobile phone company, and Casio Computer are set to form a joint venture to capitalise on the burgeoning digital payments market in Japan.

Consumers have been using their mobile phones as e-wallets for the past two years, which enable them to purchase goods at supermarkets and convenience stores simply by swiping their phone - equipped with special wireless identification technology - near a scanner. Currently, 282,000 stores across Japan have scanners that accept payment services via mobile phones.